Keefe, Bruyette & Woods Issues Pessimistic Forecast for nCino (NASDAQ:NCNO) Stock Price

nCino (NASDAQ:NCNO) had its price target dropped by stock analysts at Keefe, Bruyette & Woods from $40.00 to $28.00 in a note issued to investors on Thursday,Benzinga reports. The brokerage presently has an “outperform” rating on the stock. Keefe, Bruyette & Woods’ target price suggests a potential upside of 30.54% from the stock’s previous close.

NCNO has been the subject of a number of other research reports. Robert W. Baird cut their target price on shares of nCino from $43.00 to $42.00 and set a “neutral” rating for the company in a research note on Thursday, December 5th. Needham & Company LLC cut their price objective on nCino from $45.00 to $28.00 and set a “buy” rating for the company in a research report on Wednesday. Macquarie lifted their price target on nCino from $40.00 to $43.00 and gave the company an “outperform” rating in a report on Friday, December 6th. Scotiabank reiterated a “sector perform” rating and set a $19.00 price target (down previously from $35.00) on shares of nCino in a research report on Wednesday. Finally, UBS Group set a $40.00 target price on shares of nCino in a research report on Friday, March 28th. Ten investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $30.33.

nCino Stock Performance

Shares of NASDAQ:NCNO opened at $21.45 on Thursday. The company has a debt-to-equity ratio of 0.20, a current ratio of 1.95 and a quick ratio of 1.95. The business’s fifty day moving average price is $30.58 and its two-hundred day moving average price is $33.97. nCino has a fifty-two week low of $18.75 and a fifty-two week high of $43.20. The stock has a market capitalization of $2.48 billion, a price-to-earnings ratio of -126.17, a price-to-earnings-growth ratio of 5.77 and a beta of 0.69.

nCino (NASDAQ:NCNO) last posted its earnings results on Tuesday, April 1st. The company reported $0.12 earnings per share for the quarter, missing the consensus estimate of $0.18 by ($0.06). nCino had a positive return on equity of 1.62% and a negative net margin of 3.46%. The firm had revenue of $141.37 million during the quarter, compared to the consensus estimate of $140.81 million. During the same period in the previous year, the company posted $0.21 EPS. The firm’s revenue for the quarter was up 14.3% compared to the same quarter last year. As a group, analysts predict that nCino will post 0.12 EPS for the current fiscal year.

nCino announced that its Board of Directors has approved a share repurchase program on Tuesday, April 1st that authorizes the company to buyback $100.00 million in shares. This buyback authorization authorizes the company to repurchase up to 3.1% of its shares through open market purchases. Shares buyback programs are usually an indication that the company’s leadership believes its shares are undervalued.

Insider Activity at nCino

In other news, CFO Gregory Orenstein sold 5,148 shares of the business’s stock in a transaction on Tuesday, February 4th. The shares were sold at an average price of $32.60, for a total value of $167,824.80. Following the completion of the transaction, the chief financial officer now owns 271,744 shares of the company’s stock, valued at $8,858,854.40. The trade was a 1.86 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Jeff Horing sold 54,876 shares of the company’s stock in a transaction on Monday, January 6th. The shares were sold at an average price of $35.00, for a total transaction of $1,920,660.00. Following the completion of the sale, the director now owns 4,458,591 shares of the company’s stock, valued at approximately $156,050,685. This represents a 1.22 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 146,864 shares of company stock worth $4,215,221. 28.40% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. California State Teachers Retirement System raised its position in shares of nCino by 5.4% during the fourth quarter. California State Teachers Retirement System now owns 85,835 shares of the company’s stock worth $2,882,000 after purchasing an additional 4,417 shares during the period. Wealth Enhancement Advisory Services LLC acquired a new stake in nCino during the 4th quarter worth approximately $227,000. Public Employees Retirement System of Ohio lifted its stake in nCino by 30.3% in the fourth quarter. Public Employees Retirement System of Ohio now owns 160,216 shares of the company’s stock valued at $5,380,000 after buying an additional 37,260 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in shares of nCino by 67.2% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 242,090 shares of the company’s stock valued at $8,129,000 after buying an additional 97,333 shares during the period. Finally, Woodline Partners LP bought a new stake in shares of nCino during the fourth quarter worth $216,000. 94.76% of the stock is owned by institutional investors and hedge funds.

nCino Company Profile

nCino, Inc, a software-as-a-service company, provides cloud-based software applications to financial institutions in the United States and internationally. Its nCino Bank Operating System connects financial institution employees, clients and third parties on a single cloud-based platform which include client onboarding, deposit account opening, loan origination, end-to-end mortgage suite, and powerful ecosystem.